ATO compliance: Taxable payments annual reports
The ATO has advised that it is phoning some businesses in the building and construction industry to:
- test the levels of understanding of the new reporting requirements for businesses in that industry; and
- help those businesses to comply with their taxable payments annual reporting obligations.
They have also been contacting them to:
- ensure lodged reports are correct and complete;
- follow up with businesses that have not yet lodged a report (where ATO records indicate they should have); and
- follow up with businesses who have advised that they are not required to report (where ATO records indicate they have a reporting requirement).
If your business is contacted, let us know.